Oppenheimer Asset Management Inc. Raises Stock Position in DTE Energy (NYSE:DTE)

Oppenheimer Asset Management Inc. raised its stake in shares of DTE Energy (NYSE:DTE) by 11.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,485 shares of the utilities provider’s stock after buying an additional 576 shares during the period. Oppenheimer Asset Management Inc.’s holdings in DTE Energy were worth $609,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in DTE. Dai ichi Life Insurance Company Ltd grew its holdings in shares of DTE Energy by 146.6% in the second quarter. Dai ichi Life Insurance Company Ltd now owns 52,141 shares of the utilities provider’s stock worth $5,788,000 after acquiring an additional 31,000 shares during the period. HBK Sorce Advisory LLC bought a new stake in shares of DTE Energy during the 2nd quarter valued at about $213,000. DekaBank Deutsche Girozentrale grew its stake in shares of DTE Energy by 1.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 36,105 shares of the utilities provider’s stock valued at $3,986,000 after purchasing an additional 607 shares during the period. Forsta AP Fonden increased its position in shares of DTE Energy by 14.9% during the 2nd quarter. Forsta AP Fonden now owns 54,600 shares of the utilities provider’s stock valued at $6,061,000 after purchasing an additional 7,100 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of DTE Energy by 2.4% in the 2nd quarter. American Century Companies Inc. now owns 81,832 shares of the utilities provider’s stock worth $9,084,000 after purchasing an additional 1,923 shares during the period. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DTE. KeyCorp boosted their target price on shares of DTE Energy from $126.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Bank of America boosted their price objective on shares of DTE Energy from $131.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. BMO Capital Markets raised their target price on DTE Energy from $126.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a report on Sunday, August 11th. Finally, LADENBURG THALM/SH SH initiated coverage on DTE Energy in a research report on Wednesday, August 14th. They issued a “buy” rating and a $131.00 price target for the company. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $127.58.

DTE Energy Stock Performance

NYSE:DTE opened at $125.09 on Friday. The stock has a 50-day moving average price of $121.82 and a 200 day moving average price of $114.98. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73. DTE Energy has a 12-month low of $90.14 and a 12-month high of $127.59. The stock has a market capitalization of $25.89 billion, a P/E ratio of 20.47, a P/E/G ratio of 2.28 and a beta of 0.67.

DTE Energy (NYSE:DTE) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. DTE Energy had a net margin of 11.18% and a return on equity of 12.18%. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period last year, the firm posted $0.99 EPS. Equities research analysts forecast that DTE Energy will post 6.7 EPS for the current fiscal year.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.